In an exclusive interview, Frederick Achom the co-founder and chairman of Rosemont Group Capital partners discusses the importance of diversifying in business. The British Nigerian investor voted European Ceo of the year in 2017 for his investment endeavours in the start up space, does not believe in placing all your eggs in one basket, his investments range from renewable technology, tech start-ups and most recently cryptocurrency.
Read and find out why he believes every entrepreneur should consider entering the world of “cryptocurrency” and he also shares tips for anyone who wants to get started.
What made you decide to dive into the crypto currency space?
Like many people I find the market exciting and the idea of decentralised monetary systems to be in keeping with most of the important elements of our modern day and lives. It was an opportunity to take control of one of the most important elements of my life, MONEY!
Earlier this years you founded a cryptocurrency hedge fund what do you aim to accomplish with the firm?
First we aim to achieve outsized returns for the family and friends that trusted us with little to no track record and in-turn create a vehicle that HNW investors can view as an alternative to traditional hedge funds. Second, we are in the early stages of an industrial revolution and we aim to grow and establish ourselves within the blockchain ecosystem, hopefully we can evolve to being much more than a fund or a blockchain vc.
You are most known for running Rosemont Capital partners, where you mostly invest in tech start-ups, how do you manage to juggle running multiple ventures?
It can be a little bit overwhelming because there is so much scope in so many areas of technology at the moment but we try to streamline and stick to where our expertise brings real value. We have a small but effective team so I am able to delegate to trusted managers within the firm.
Do you have an advice for people looking to get started with cryptocurrency?
Tread carefully! Invest a lot of time in research and study. The market is very dependent on market sentiment so follow lots of news available through specialist news platforms and telegram/ whatsapp investor groups. Utilise SA (sentiment analysis), TA (technical analysis) and of course, FA (fundamental analysis) for trading and investment decisions.
— Freddie Achom (@iamfreddieachom) August 20, 2018
Do you have any predictions on how cryptocurrency will evolve over the next 10 years?
Firstly we can’t address the scope of cryptocurrencies without addressing the tech that underpins it, the DLT (decentralised ledger technology) or blockchain. As it stands, it is the new internet and we have all witnessed how the internet has completely overrun every aspect of modern life. Think about life today without the internet!! DLT/ Blockchain is the internet 2.0 and cryptocurrencies are a byproduct of that and will one day be the primary solution for asset exchange and peer to peer transactions, more so in developing markets where markets and fiat currencies are volatile.
Beyond cryptocurrency what other industry would you recommend investors to invest in?
Like I said earlier, there are many exciting developments in many areas at the moment but I believe MaaS (mobility as a service) has a long way to go with many verticals still to be explored. Think self driving cars, smart cities solutions etc etc, things that will change how we get around. AI and FinTech have only touch the tip of the iceberg. They will change our lives completely and forever.
What advice would you give to entrepreneurs who look up to you?
Learn to learn. Sounds easier said than done but always keep learning and adding to your knowledge base. When we stop learning we stop growing.
On your social media page you mentioned how you are in the process of writing a book to inspire the next generation entrepreneurs. What can people expect from it?
They can expect an insight into a different way of viewing the everyday obstacles one faces in professional environments and how to overcome most importantly yourself because you are the biggest obstacle in your life!